On March 28, 2013, co-conservators Jamie Spears & Andrew Wallet filed a petition to modify the investment strategy of Britney Spears' estate. Judge Reva Goetz granted the petitioners' request for additional flexibility in their control of Spears' liquid assets. Britney Spears was not present for the submission of this petition.
The primary push is to shift funds out of highly stable securities and into mutual funds & hedge funds that are managed by fund managers who charge fees to investors, on top of the fees charged by the investment firms that review and recommend these fund managers.
Also of note: "As a minor portion of the portfolio, the Conservators also hold separately managed accounts which are in-house strategies of the investment advisors, who manage and trade individual stocks directly."
The SJB Revocable Trust is separate from the conservatorship-controlled funds. However, Trustee Ivan Tabeck agrees with investing the conservatorship assets and the trust assets as a unified whole with the same firms coordinating the investments. The petition includes an overview of recommended investment allocations for the assets controlled by both conservators Spears & Wallet and trustee Taback.
As in previous filings by conservators Spears & Wallet, they request that the requirement of 15 days advance notice of the hearing be waived. Their reasoning is that the need for additional flexibility in investing Spears' assets is too urgent to wait another 15 days.